From Rags-to-Riches“Entrepreneurship is not for the weak of heart. There is no easy path to success. You will need to work harder than your employees, to keep your mind sharp, and to face your inner fears. In the end, entrepreneurship is not only finding opportunities to create value in the business sense, but also finding the opportunities to be your best self” (Khanser, 2007). John Gokongwei Jr. has everything that a person should possess in order to become a successful entrepreneur. He was confident enough to seek for opportunities, plan creatively/innovatively and intelligently take risks. A strong desire for achievement that made him responsible and self-directed is also John’s strength. He is also an independent man who has a core capability to solve problems of his business. Gokongwei's prosperity conveys with it an inexorable story that can motivate each yearning and begin up ambitious people to accompany his course and illustrations. Behind his considerable aggregation of organizations which gave him a shocking total assets of $3.2 billion (Forbes, 2013), is a tough rags-to-riches newfound wealth account. The extravagance that he appreciated all of a sudden vanished when the organizations that his father was obliged to back his organizations seized their lands as installments to the credits that his father made, abandoning them with practically nothing. As a result, John Jr., as the eldest kid and his mother chose to send off his five kin to China where the average cost for basic items is far less unreasonable. At the age of fifteen, he began to participate good to go by offering items in the adjacent towns of Cebu utilizing a bike. His unanticipated begin in the field of business endeavor with a definitive point of survival and his combats from there on has helped him gotten to be what and who he is today: an extremely fruitful tycoon utilizing many Filipinos and a thankful humanitarian supplying powerful sums to...
Show More

Please sign up to read full document.

YOU MAY ALSO FIND THESE DOCUMENTS HELPFUL

...John L. GokongweiJr.
Who is he?
“Call it trite--but, believe me, success can be achieved, through hard work, frugality, integrity, responsiveness to change--and most of all, boldness to dream. These have never been just easy slogans for me. I have lived by them” GokongweiJr., John L., Commencement Address (AdMU), 27 March 2004.
Ranked by Forbes Asia as the third richest entrepreneur of the Philippines in the year 2010, John L. GokongweiJr., is a Chinese-Filipino business man who was born on August 11, 1926 had spent his childhood in Cebu, Philippines. He earned an MBA Degree from De La Salle University and attended the Harvard Business School’s Advanced Management Program. He was included in the list of Heroes of Philanthropy by the Forbes Asia’s Magazine of 2008 along with his three fellow Filipino business men namely Oscar Lopez, Jaime Augusto Zobel de Ayala and Ramon Del Rosario.
Gokongwei is the founder and chairman emeritus of JohnGokongwei Summit Holdings Inc. (JS Summit Holdings Inc.), one of the largest conglomerates in the Philippines competing with well-known companies such as SM Malls and Ayala. JG Summit Holdings Inc. core businesses are: Universal Robina Corporation, Robinsons Land Corporation, United Industrial Corporation of Singapore, Digital Telecommunications...

...﻿John L. Gokongwei, Jr. was born August 11, 1926 in Gulangyu, Xiamen, Fujian Province, China is a Chinese Filipino businessman with holdings in telecommunications, financial services, petrochemicals, power generation, aviation and livestock farming. As of 2012, Gokongwei is the third richest entrepreneur in the Philippines with a networth of $3.2 billion, ranking behind only to Henry Sy and Lucio Tan. His parents are Juanita Marquez Lim and JohnGokongwei Sr. Gokongwei being the eldest child among six children he is the breadwinner of the family. Having lost his father at an early age and being the eldest child in the family, little John had to assume responsibility and be the man of the house. At a tender age of fifteen, he decided to become an entrepreneur where he bought and sold grocery items. He learned how to sell food and other goods in the streets of Cebu, competing with men and women who were at least twice his age. This was during World War II. Their business prospered since people did not have anywhere to buy their goods. So, after the war, they started manufacturing starch that became the basic staple for their food and cosmetics companies.
By the age of 13, Gokongwei bought his own bicycle so he can go to nearby towns and barrios to sell soap, thread, Candles and other things that people need. He would wake up early so he can start...

...A case study about Henry Sy and John Gokongwei's success.
Case Background
Henry Sy and JohnGokongwei were both born very poor. This situation, one may conclude, served as a blessing for the two most celebrated entrepreneurs in the Philippines on their journey to wealth.
Shoeless and with only clothes on his back, Henry Sy started his entrepreneurial career by tending at his father’s sari-sari store in Cebu. But Henry dreamed of something big for his future. He dreamed of having his own business to provide him enough money. In 1945, he put up a small shoe store in Carriedo, Quiapo. From then on, that humble shoe store became Shoemart (commonly known as “SM”). Since there was a constant pouring of capital back into this venture, he then expanded into textiles and household goods and was then opening outlets to selected parts of the country, centering at the Metropolis.
On the other hand, John Go (“kongwei” meaning “bright” was suffixed later to his name later) started his road to success by hawking wares in Cebu. This led to his dream of building his own retailing kingdom. He first started by trading and manufacturing corn starch in 1955 and has soon expanded into supplying groceries and animal foodstuffs in bulk. Later, he ventured also in textiles, banking and real estate, hotels and shopping complex developments.
The abrupt expansion of the enterprises of the...

...﻿A case study about Henry Sy and John Gokongwei's success.
Case Background
Henry Sy and JohnGokongwei were both born very poor. This situation, one may conclude, served as a blessing for the two most celebrated entrepreneurs in the Philippines on their journey to wealth.Shoeless and with only clothes on his back, Henry Sy started his entrepreneurial career by tending at his father’s sari-sari store in Cebu. But Henry dreamed of something big for his future. Hedreamed of having his own business to provide him enough money. In 1945, he put up a small shoe store in Carriedo, Quiapo. From then on, that humble shoe store became Shoemart (commonly known as“SM”). Since there was a constant pouring of capital back into this venture, he then expanded into textilesand household goods and was then opening outlets to selected parts of the country, centering at theMetropolis.
On the other hand, John Go (“kongwei” meaning “bright” was suffixed later to his name later)started his road to success by hawking wares in Cebu. This led to his dream of building his own retailing kingdom. He first started by trading and manufacturing corn starch in 1955 and has soon expanded into supplying groceries and animal foodstuffs in bulk. Later, he ventured also in textiles, banking and realestate, hotels and shopping complex developments.
The abrupt expansion of the enterprises of the two business tycoons marked the start of a period of...

...JohnGokongwei is the founder of Cebu Pacific, a Filipino airline company started in 2005. Cebu Pacific is one of the most recognised airline companies in the Philippines. JohnGokongwei is a great rags to riches story of how he started entrepreneurship out of poverty. He also is a active philantrophist and donates millions to various charities around the Philippines.
John L. GokongweiJr.
Who is he?
“Call it trite--but, believe me, success can be achieved, through hard work, frugality, integrity, responsiveness to change--and most of all, boldness to dream. These have never been just easy slogans for me. I have lived by them” GokongweiJr., John L., Commencement Address (AdMU), 27 March 2004.
What made him a leader?
The qualities that Gokongwei possesses made him a successful business tycoon. He is a type of person who is a risk-taker; he was never afraid to take the next steps for his empire to grow. He is an optimistic person, failures and mistakes were never a barrier for him, he always try to have a healthy attitude towards failure, it’s a part of being an entrepreneur which is clearly stated in his quote:
Achievements
Mr. John L. Gokongwei, Jr., serves as President of JG Summit Capital Markets Corp. Mr. Gokongwei served as Chairman and Chief...

...SY Age: 81 Net Worth: 1.5 Marital Status: married, 6 children JOHNGOKONGWEI NETWORTH: $430 million AGE: 81 MARITAL STATUS: Married, 6 children
* 2. THE LIGHTER SIDE OF THE HEAVYWEIGHTS Residential centers is garments His clothes off the rack at a bargain sale at Robinsons Ready-Made shirts, his tailor is Aman Hing Chiong, whose shop is at the Mandarin Hotel in Hongkong Not known to be extravagant with his emotions or demonstrations of feelings He likes the Russian composers romanticists like Tschaikovsky whose music supplies all the emotions he is not supposed to show when he’s at the negotiating table He is competitive No competitive sport for fun or He is competitive No competitive sport for fun or fame; no barkada March 1989, 2 week vacation in Health Center at the Pritikin Longerity Centre in Los Angeles, he learned about food and how it is ingested by the body-fruits, vegetable, grains, noodles-stay away from pepper, sugar, coffe, fats and alcohol Jogging, Swimming, Shooting at San Francisco He’s learning that traveling for business and pleasure is both possible and enjoyable. Takes quick trip to either Bangkok or Hongkong San Andres Bukid Dresses Dapperly in elegant designer More relaxed in t-shirts which he often wears to work Life are free He collects the works of painter Juvenal Sanso He is very limited social life Occasionally has a sip of brandy or simply because he values his health like John...

...of self-determination, again. I tell you, it works for individuals as it does for companies. And as I firmly believe, it works for nations.” A quotation from Gokongwei about entrepreneurship which strongly shows how passionate he is in doing his work. The story of JohnGokongwei is should be an inspiration to Filipinos in achieving life’s goal through self-determination and hard work and attaining nation’s success.
Gokongwei life is a stirring “rags-to-riches”story. His present status is the fruit of his labor he started at young age. He developed his entrepreneurial attitude due to his father’s death. On a good side, it opens his door to many opportunities and skills which eventually led to his success. He learned the true value of self-determination at an early age when he started selling goods on palengke. He always seek for great chances and not waste them. However, establishing his businesses in not always a triumph like when he lost his board seat in San Miguel Corporation but consider it as a win as he overcome his fear and for his trying to win. Like Gokongwei, Filipinos should always try to win. In every aspect we must always try and be determined to win. Every day is a challenges and with it are problems we encounter, trying to win is the start of the opening of opportunities that may help us to succeed.
Gokongwei also emphasizes his dream in his speech—a dream not involving him...

...Sy and JohnGokongwei continuity.
II. objectives
* To determine the way on how their business well continue without breaking the very large company.
* To mark out few possible causes of action that will lead to the down fall of business.
III. are of consideration
Henry Sy and JohnGokongwei have both family members who are capable of running the business. They both have children who are very inclined to business. Since their early aged, they saw how their father’s work hard. They knew their father’s hardship, from being nobody to somebody. They know how their parents, specially they’re father work hard for their business to grow. Having seen, and experience the luxury of their father’s successful business, they will surely treasure I like how their father take care of it.
The education, which Henry Sy and johnGokongwei provided to their children are how fruit bearing. They do have a very smart children which will someday inherit their family business. They do have the knowledge and the guts. Yet a single decision can make or break it.
IV. alternative courses of action
Henry Sy and JohnGokongwei introduce their heirs to already solid and full founded dynasty of business. Both tycoons share their ideas and decisions to their children. even they make decision, a big part of it, which influence them very much, are still their fathers...